Alaska Air Projects Annual Earnings Below View, Sees Increased Revenue

(RTTNews) - Alaska Air Group Inc. (ALK) on Thursday projected full- year earnings below analysts' estimates. However, ALK forecasts improved revenue.

For the fourth-quarter, the airline projects its Available Seat Miles or ASMs to move up to 11 percent to 14 percent from the same period of last year.

For the final-quarter, ALK projects a revenue growth of up 1 percent to 4 percent from previous year quarter. On average, 11 analysts polled by Thomson Reuters expect the Group register revenue of $2.59 billion, for the year. Analysts' estimates typically exclude special items.

For the full-year, the Group projects its ASMs to increase to 12 percent to 13 percent, from 2022.

For 2023, the company expects income per share of $4.25 to $4.75, below the analysts' estimate of $5.16.

ALK forecast full-year revenue growth of 7 percent to 8 percent. Analysts, on average, expect the company to register revenue of $10.51 billion, for the year.